City of Compton Fraud … You’re Kidding!
Now the Mayor of Compton alleges fraud. Who knew? It stopped the City from getting a line of credit to handle the $41mm deficit. Good luck getting an opinion from the auditors. Apparently the last audit had a “going concern clause”. Here’s hoping the auditor gives an opinion (rather than disclaiming). Oh … what a mess the auditors will find. Once they are alerted, they’ll have to turn over all sorts of rocks and boulders and still be worried they didn’t find everything. If this was a political maneuver, it was pretty bonehead. Apparently, the Mayor is alleging that the reason for the deficit is “fraud, waste and abuse”. I’m reasonably certain that fraud, waste and abuse has something to do with it. I’m more certain that a reasonable accounting system, with reasonable over-site would clear up the FWA.